Looking to balance out your exposure to SLGN? The ETFs below have the lowest correlation with SLGN — they tend to move on their own, which can help reduce risk when SLGN drops. The stock ideas table highlights individual companies that behave independently from SLGN.
Best Diversifiers for SLGN
1 ETFs have low correlation with SLGN (below 0.3), 1 of which are negatively correlated. The least correlated is iShares 0-3 Month Treasury Bond ETF (SGOV) (Ultrashort Bond) with a 1Y correlation of -0.04, roughly unchanged from 0.00 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.04 | -0.00 | 0.00 | 100 | Ultrashort Bond | SLGN vs SGOV |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from SLGN, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to SLGN and solid risk/return profiles. The least correlated is EMCOR Group, Inc. (EME) (Industrials) with a 1Y correlation of 0.07, down from 0.28 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| EMCOR Group, Inc. | 0.07 | 0.17 | 0.28 | 70 | Industrials | |
| Restaurant Brands International Inc. | 0.23 | 0.27 | 0.27 | 66 | Consumer Cyclical | |
| Reliance Steel & Aluminum Co. | 0.35 | 0.41 | 0.43 | 67 | Basic Materials | |
| Sonoco Products Company | 0.63 | 0.62 | 0.63 | 71 | Consumer Cyclical | |
| Crown Holdings, Inc. | 0.67 | 0.65 | 0.65 | 57 | Consumer Cyclical |
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